Armenia to receive €152 million in support from Germany

The German government will allocate €152 million in support to Armenia, according to Armenian Minister of Economy Gevorg Papoyan, Report informs via local media outlets.

Papoyan made this statement following the conclusion of the Germany–Armenia Intergovernmental Commission meeting in Berlin.

The minister stated that the entire amount will be directed toward the development of small and medium-sized enterprises, renewable energy, and water supply systems in Armenia, as well as addressing several key economic challenges facing the country.